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What checking account service do you use?
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Time to buy SQQQ / TTT / TZA?
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Guilty. Guilty. Guilty. Accountability!
what is NP in Axtria?
Just got dinged from my dream job
Feels bad man
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Does anyone know about 401h?
I looked into this for a client who inherited one of our proprietary annuities. I don’t remember whether there was some rule that no company would add the rider if we did 1035x or if it was a NY regulators problem
All great solutions for the fiscally responsible son. I've already built him a managed account around SDY. The daughter is 63 - her, her husband and adult son are all on SSID. Need a lifetime defined income solution. Can't find any annuity company that will lifetime income Rider on a non-spousal inherited IRA.
Yes that’s the problem I had. What I was thinking to solve it is instead of the beneficiary taking RMDs, what if they withdraw the entire amount of the IRA and then pay taxes on the whole darn thing, and use whatever is left to buy their own annuity w the rider?
Try athene. They have an FIA that accepts inherited IRAs with income rider.
Yes. There are companies that offer that. I’ve done several with pacific life VA. I think Lincoln offers one in a FIA. I’m sure there are more that offer the option
And I need to apologize again! I didn’t catch that you had an IRA. I was looking at my non qualified! I wouldn’t be using an annuity in a qualified account if I didn’t have a need for a rider
The rmds will be problematic. Many riders wont accrue if you take distributions. I would suggest an all-equity strategy. If they are young enough dividends can cover RMDs. A dividend growth model (like dividend aristocrats - NOBL) would be an easy sell. Income is steadily growing, the principal will be affected near term by speculators but long term the fundamentals will win - and with only using the growing dividends you don’t really need to be concerned with what short term speculators are doing. (They are wrong most of the time anyway!)
If you prefer active management Federated has a good SMA and fund which also buys growing dividend payers
FA1. Possible. But you're asking someone in the zero percent tax bracket to realize 100's of thousands of dollars in income (and tax) in one year. It also kinda blows up the income potential.
Ended up doing a SPIA w Securian. After >8 hrs of wholesaler phonecalls, paperwork and client meetings the market took the account below the transfer form, illustration and monthly amount she needs. The solution/sale is dead.
Get an FMO that does all the research for you. Should have been wrapped up in a few hours. Not sure your insurance volume but I use advisors excel. Most don’t require minimum production but they are worth their weight in gold if you have the right one. Markets will come back and she probably still has an income need. Don’t give up.